Addex establishes a program to sell ADS shares on the market
Geneva, Switzerland, June 30, 2021 – Addex Therapeutics (SIX: ADXN), a clinical-stage pharmaceutical company pioneering the discovery and development of drugs based on allosteric modulation, today announced that the company has entered into a sales agreement with Cantor Fitzgerald & Co. (Cantor Fitzgerald), acting as commercial agent, to offer American Depositary Shares (ADS), each representing six shares of no par value as part of a “to market” offer (ATM) program. The company’s ADSs are traded on the Nasdaq Capital Market under the symbol “ADXN”.
The ATM allows Addex to offer and sell ADS from time to time through Cantor Fitzgerald acting as a selling agent and through a prospectus supplement filed with the Securities and Exchange Commission (SEC) on June 29, 2021, as part of the registration statement. on Form F-3 (File No. 333-255089) which was declared effective by the Securities and Exchange Commission (SEC) on April 13, 2021. Copies of the prospectus supplement can be obtained free of charge from EDGAR on the SEC website at www. .sec.gov. Otherwise, Cantor Fitzgerald & Co. will send you the prospectus supplement if you request it by contacting Cantor Fitzgerald & Co., Attention: Equity Capital Markets, 499 Park Avenue, 6th Floor, New York, New York, 10022 , Email: firstname.lastname@example.org.
Subject to the terms and conditions of the sales contract, Cantor Fitzgerald may sell the ADSs by any method permitted by law considered to be a “market offer” as defined in Rule 415 (a) (4) of the Securities Act of 1933., as amended, including, but not limited to sales made through the Nasdaq Capital Market or any other existing trading market for ADS. Cantor Fitzgerald will use commercially reasonable efforts to sell any ADS requested by Addex, in accordance with its normal business and selling practices. Under the terms of the prospectus supplement, Addex may offer ADSs at prices and on terms determined by market conditions at the time of the offer. The ADSs for sale under the Prospectus Supplement will not exceed $ 16.0 million.
Addex intends to use the net proceeds of the ATM program to further the development of its portfolio of proprietary allosteric modulator drug candidates. These include dipraglurant, an mGlu5 negative allosteric modulator, currently in a pivotal registration study for levodopa-induced dyskinesia in Parkinson’s disease (PD-LID) and a planned clinical study in blepharospasm, a type of dystonia, as well as several preclinical drug candidates.
This press release does not constitute an offer to sell or the solicitation of an offer to buy such securities, and there will be no sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be illegal prior to registration or qualification under the securities laws of any such state or jurisdiction. No sale of securities is made through an automatic teller machine in Switzerland.
About Addex Therapeutics
Addex Therapeutics is a clinical-stage pharmaceutical company focused on the development and commercialization of an emerging class of new orally available small molecule drugs known as allosteric modulators for neurological disorders. Allosteric modulators offer several potential advantages over conventional non-allosteric molecules and may offer an improved therapeutic approach to conventional “orthosteric” small molecules or biologics. Addex’s allosteric modulator drug discovery platform targets receptors and other proteins recognized as essential for therapeutic intervention. Addex’s lead product candidate, dipraglurant (mGlu5 negative allosteric modulator, or NAM) is in a pivotal registration clinical trial for levodopa-induced dyskinesia (PD-LID) in Parkinson’s disease. Addex is also studying the therapeutic use of the diluent in blepharospasm (a type of dystonia), for which a clinical trial is expected to be launched in the third quarter of 2021. Addex’s third clinical program, ADX71149 (mGlu2 positive allosteric modulator or PAM), developed in collaboration with Janssen Pharmaceuticals, Inc., is in a Phase 2a proof-of-concept clinical trial for the treatment of epilepsy. Addex’s GABAB PAM program has been licensed to Indivior PLC, which focuses on development for the treatment of drug addiction. Preclinical programs include GABAB PAM for CMT1A, mGlu7 NAM for PTSD, mGlu2 NAM for mild neurocognitive disorders, mGlu4 PAM for Parkinson’s disease and mGlu3 PAM for neurodegenerative disorders. Addex shares are listed on the SIX Swiss Exchange and the American Depositary Shares representing its shares are listed on the NASDAQ Capital Market and trade under the symbol “ADXN” on each stock exchange.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including with respect to the anticipated initiation and progression of clinical trials and preclinical studies, and its use. the ATM program and any future fundraising activities. The words “may”, “will”, “could”, “should”, “should”, “expect”, “plan”, “anticipate”, “intend”, “believe”, ” estimate “,” predict “,” project “,” potential “,” continue “,” target “and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. All forward-looking statements contained in this press release are based on the current expectations and beliefs of management and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to occur. differ materially from those expressed or implied by any forward-looking statement. the forward-looking statements contained in this press release, including, without limitation, uncertainties relating to market conditions. These and other risks and uncertainties are described in the Company’s annual report on Form 20-F filed with the SEC on March 11, 2021, as well as in market conditions and regulatory review.
All forward-looking statements contained in this press release represent the views of Addex Therapeutics only as of the date hereof and should not be construed as representing its views as of any later date. Addex Therapeutics expressly disclaims any obligation to update forward-looking statements, except as required by law.